an inflationary period possibly a period of stagflation because the economy could be stagnant or is it what bitcoin is telling us that the u.s. dollar has been in a hyper inflationary collapse against bitcoin i think when you look at the bond market which is a proxy works way inflation is going if you've had a 40 year bull market in bonds which has told us that inflation is quiet and i think the bond market is turning so i think we're entering a secular bond bear market which would indicate we're in a secular period of inflation the entire real world of all the commodities are spiking in terms of these house price cost and wolf street will factor he speaks to a builder in the midwest somewhere and this builder mentions that 3 inch p.v.c. pipes which are obviously crucial to the plumbing system in the house he was able

to secure those at $0.12 per 3 inch back in the autumn they now go for $5.00 or so per foot so you know. huge increase in the price of these p.v.c. pipes but he mentions again like the builders are willing to pay at the developers are willing to pay that and the consumer that buyers all along the chain are willing to pay those prices he says shows that there is a massive shift in the mind set what would have caused a buyers strike in past years is now causing a buyer's frenzy so the price going up you see this and inflation's or hyperinflation a frenzy of buying because you want to get it before it gets even higher so that's what you're starting to see that mindset is the psychological impact across an entire economy is obviously what the fed spends a lot of time trying to manage. that's what the fed speak is all about sort of

manage the psychology of the market participants right so this looks like it's shaping up to be an inflationary depression yes like we've seen why margery money or or venezuela or zimbabwe versus what we saw in the 1930 s. in the u.s. see clay sherry depression so this would be an inflationary depression and people are panic buying assets right now to protect themselves against what looks like. on the horizon which would be an utter collapse of the u.s. dollar of course in charge of the u.s. dollars the treasury the treasury tries to stay quiet and let the fed which only has power over credit it can't print u.s. dollars so it lets the fed do all the you know be the puppet like this kind of spokes person that's always speaking up the dollar whatever but yellen of course janet yellen who's the treasury secretary now used to be the fed chairman she's now she set off a panic by saying you know we freeze rates if interest rates get too high of course

that's not their remit of the treasury at the moment but it caused panic is like is this what they're thinking is this what's going to happen and just the fact that it's not where prices are going parabolic like that isn't telling people already that there's inflation like why did they why why are they getting panicked because the treasury secretary points out what is obvious she's obviously watching kaiser report oh if i recall my dog. the book. death of ivan ilyich it's an interesting parable about a man who witnesses his dead but apparently but he's can hear the mourners talking about him his life that would be interesting yeah yeah so here the economy died in 2008 global financial crisis we just haven't buried it yet like ivan ilyich he hasn't been buried and you can still hear what people are saying about oh so we can still hear people talking about the economy like johnny allen and jay powell even though it's technically it's dead and. apologize that

that's not off. but it's definitely one of the 2 or 3 most famous writers but nevertheless the analogy holds even though some names may have been incorrect. well. you have that wrong it was tolstoy. oh right right right i always get those 2 mixed up yeah yeah that happens you know great writers all get confused with each other but again getting mixed up of course people can't tell if there's inflation or deflation again like we've been in a whirlwind of like of chaos since 2000 the end for that entire time nobody knows whether we're going up or down whether there is deflation or inflation the fact that for example incomes are up over 20 percent in the past year. stock markets

hitting all time highs of course now there's some tumbling in the nasdaq and stuff but like that reads like boom times but the government policies are like great depression level stuff like everybody's applauding biden as being like f.d.r. and you're like but the markets are all time highs and you know when incomes are out so like what's going on here is the f.d.r. for bankers. quantitative easing is the same as what we did in the thirty's under f.d.r.'s work relief programs you know help people get jobs any injected them with money right so biden's like these poor bankers remark going to get their bonuses this year some of them are defaulting on their ya payments what can i do i know i'll send him another trillion dollars yeah well the fed is obviously doing the quantitative easing which is an easing of credit and taking all the bad debts and putting on the fed's balance sheet biden is presiding over the treasury and janet

yellen who are speaking to a debt economy and they're printing up actual treasury bills actual money layer one piece money they're printing it all up and throwing it at anybody of course. you know the way our economy is set up you can't get it to the people you have to give it to bankers 1st they want to cut and then the fellow agree to it right it's just repeated by the same guys you know so i. there it's based money being printed or credit being expanded at all rows of leaves through the narrow passage it's called jamie diamond's bank and actually speaking about i want to point out something that i've been thinking is that you know quantitative easing started in 2008 in america it started earlier in japan but it started in america when as you said like as the fed issue and credit and swapping all the bad debts taking the bad debts off the balance sheets of the private banks and putting it on the balance sheet of the fed which ultimately the taxpayer the american population underwrites whether or not

they understand that but so that the quantitative easing cause that can tell in effect cause that huge wealth gap that happened right so now you have fiscal stimulus for the 1st time this hasn't been seen ever in our lifetimes like we've never i think max you said you once received a $600.00 stimulus check yes i did under reagan under reagan i've never received any of them but these are just like mammoth size so i'm feeling like you know now we're in the next phase of that like we had a domestic can tell in effect now we have global one starting to happen right so all americans are getting huge thousands of dollars of checks trillions collectively and that's causing a cantillon effect globally right because now they're getting their closer to that fresh print to cash versus somebody in bolivia or mexico or europe or anywhere else like this this flood of cash is coming in here 1st so you're going to have a cantillon effect but you know if this is inflationary and the great depression

was deflationary what you saw was that game theory going on and you know geo political level of like you're trying to beggar thy neighbor by pushing deflation on to them like britain was the 1st to pull themselves off the gold standard they bloomed and then every at the expense of others so i think you're starting to see that you're seeing that in the commodities prices you're seeing that in in the headlines about inflation i. or steel hit all time highs as monster commodity rally breaks records it goes on to talk about all these iron ore prices steel and all that stuff and it has a lot to do with this like game theory and the trade wars going on between the us and china and what's going on there right right the money printing is causing a global console the fact because the americans are taking a check that money and they're buying goods from china yeah i saw they got a china has a surge and then they have an export split so this is resulting in the globalization remember in january we said the 3 major trends for 2020 want to be digable is asia

indeed dollars ation and d. population so this is deed dollars asian indeed globalization and we see this even you know happening post bragg's of now i see that britain and france are you know already have their throats over fishing rights and actually coming to blows so this is all happening in a de globalized context and that de globalization backed leading up to the great depression that was like a crack up a crack down collapse a crack down depression this is a crack up depression is a crack up deflation globalization process because they let the bonds collapse and then in the depression of the 1930 s. you had banks go bankrupt and you have bond markets collapse and that was deflationary any place trying to question here since bernanke and greenspan you have constant bailing out of the banks with all this crazy money so there was never the natural process of getting rid of the bad banks all they did was they kept of

zombie banks alive and now this is led to an inflationary depression and of course back in 1033 they were able to seize the citizen's gold the american citizens had savings now they don't own right so that all they have are checks from signed by biden with a letter from biden so it's like you have to go seeking elsewhere and that that you can beggar thy neighbor with the inflation of the hyper inflation rate which is leading to conflicts. yeah let a currency war hot war and i'll show you this iron ore prices hit all time high $200.00 a ton that's the 1st time and that's part of the crack up to her. away at work and hey we're going to take a break and when we come back much more coming your way.

but if you will work for you can for both of us with a chance. to degrade the idea for a major overhaul bush's last post it took you to intervene so you all heard. push connected through you but i see no reason it couldn't let the wind give you.

pleasure little fish not go for anything before bill and water should that it is that they took the situation is that the surest movable the worst in the us was something she could possible in the woods told once this issue will. go well for you really. just went out to the store to get to the beat it by end of the much of which i mean yes the clutter ceased door rama as they should but they see it because when you get out of the scott. peterson you're chicago's 3000 but it's off what you mention it's just. new york is really what america is about. when our mayor took our 1st she was elected because of his campaign on our city

being a tale of 2 cities the haves and the have not and those who have not are usually the ones who wind up being very hard out of the city has always wanted to forget about iowa city has wanted to forget about the people who are buried there wanted to forget about the fact that there is a potter's field but there is a place where difficult stories are hidden the fact they were using inmates to maintain this act is burial site where 1000000 souls are buried where so much of new york city history is parried is the cement of the inequality that exists in this city for sense. it's. a reflection of reality. in a world transformed. what will make you feel safe. place

a nation full community. are you going the right way or are you. what is true. is faith. in the world corrupted you need to descend. to join us in the depths. or remain in the shallows. welcome back to the kaiser report i'm max kaiser time now to turn to alex netsky he

is the founder of amber app he is out with a new piece entitled fear fast as i'm in communism so i want to get them right on let's start with collectivism alex how does fear not lead to collectivism give us some examples of this collectivism alex. that's nice i mean i can. collect it it's my yes you know the idea that somebody has asked me to. creates the object code or the mechanism with which we measure the part of you know part of our labor as human beings if they then have the ability to play a game of heads i win tails you lose and whatever action they take you to breed you know action and they make you no good decision they get to sort of private scientists they gains and if they make

a bad one they get to socialize the losses by creating more of this thing called money and so repaid everything so it creates like a really i'm say game and it it is the basis upon which all clicked and business based like collectivism this idea of whether it's communism fascism democracy. whatever other ism they you know want to place these days if it requires some sort of institution to keep itself in business and the way to keep itself in business is by stealing from us and yet enables that whole think it's crazy right i say we're going with that now. it happened over time right because it's a slow process people and people aren't aware of it when you're saying people will say ha you know i hadn't thought of it like that on the let me you know if you want what what do people think they're getting with fiat money well i mean when arsenal person wants money they're like oh no it's in the government snow so they assume

that it's like some sort of mechanism and most people to try and find money it's like a medium of exchange so this sort of know that money itself doesn't have any value if it's just sort of it's tool so i don't really know what it is that people feel they getting they just sort of i think they're just a slate in ignorance that i don't think they then question well getting and as a result they sort of never cheat in a slogan sense or right and a few other i.d.'s are so there's this can tell in effect which is a sort of a collective as a myth it's really a new deal for. or bankers if you think about it like you are saying if they have the ability to bail out their friends and with the money and to be able to print money and what we've seen is that no banking fraud goes without a bailout and this goes on over and over again and they also get to write the laws right so if you have a lot of be out you can go down to washington you can buy a senator or buy a congressman how some laws are written to we say this all the time for example the

merger of citi group and travelers corp was a patently against the glass steagall law but they did it anyway knowing that post merger they were going to change the law and that is really the law the law of the land is there is the law so if we have a deed stabilisation of society in places like the us where hyper partisanship has erupted between a so-called winners and the deplorable you know that's interesting is that in america it's not really republicans and democrats anymore it's the people who got away with stealing the money the so-called winners versus the victims of these financial crimes which are the deplorable so let's let's address the elephant in the room big point so this big coin fix this and if so how was it 100 percent does i actually want to say you mentioned you know the bankers and i know what i see that it's not necessarily to thank the bad but that the system is set up

in a way that the bank has become back you know when there exists a monopoly like the states again theoretically speaking it's logical to go and coerce the state to create laws and regulations and rules on a monopoly that enables you to have you know an unfair advantage so that sort of the crux of the game there isn't the actions of the state actually you don't get any competitive thank you which is a good thing like i didn't see nothing wrong with competitive banking you know if you have. people playing on the same playing field and this is what vick went dixon's and says all right let's rip money as as the most important to you know human society let's rip that out of the hands of everyone the state the bankers everyone let's just put it out here and it's a set of rules it's not a it's not an institution governed by rulers that it's a it's a network governed by

a set of rules that are voluntary and iran can help them and on that day anyone can build their own bank they can build their own financial service they can build their own you know community they can do whatever they once but they caught severe the rules. in favor of themselves at the expense of everyone else so see this is one of the model s. if a coin is the only possibility we have courts close as they possible to a true equality of opportunity because like you never sort of talks about our you know equality of outcome of that video straight and then i like that sort of a conversation something because there realistically could get equality of opportunity unless and sort of blow the whole planet up and start everyone from scratch again you know we all live in different places at different points in time with different families and different opportunities and different results as with a different social life all of that is always going to be you know different across the board so we can't have the quality up to being anything other than if we can get equality of opportunity through the mechanism that we you know still

a part of through our labor in exchange of your money you create what's really really important which is social mobility and if this is something that i don't hear anybody talking about like i'm a big fan of fillers he doesn't work for example and he's always talking about our you know inequality is a real problem because. you know when someone creates wealth you get this sort of a 20 distribution with a ball well all you get but what they missed is the dynamic nature of a system in which you con socialize your losses this is what they claim gives us is that it makes to anyone who's at the top who's managed to make a bunch of good decisions decline there is a risk of folding if you make bad decisions and everyone has a lot on if they decide to make good decisions or if they make prudent you know actions they can actually climb in the current system we conned do that if you're at the top we can out officially say that through being close to the monitors to get in if you're at the bottom you can't get ahead because as fast as you run the

thing that you're saving that the wealth that you're saving is there that great sponsored you say the get away so instead of getting a natural 8020. sort of equilibrium in terms of inequality which is that's where we see it it may change it's it is music to see it it's all it's. well you see it in brains you see it in everything the city getting in natural inequality you get in natural inequality get in 99.90 point one which is what you said about the deplorable and the rest of us so it's a fix all of that because we have it we have again we're all playing the same rules so that's a question i hear all the time. will it be quite simply replicate the system as we know it's a day because they see now people in the corporations and others getting billions of dollars of pickling in the that's one of the instincts thoughts that people have but what you're saying is in fact it doesn't replicate the system as we know it because no matter how much because you have you cannot change the rules you cannot change the system because you don't influence the system everyone is equal in that

sense and and that's very different of course he said that you can't wholesale change the system without really starting from scratch with big coin you are kind of starting from scratch but you we will see wholesale changes because we will see wealth kind of redistributed for lack of a better word but we're going to see a whole re a christening of the entire economy and there will be people who will be impacted quite severely because the whole system is changing. but that's that's the way revolutions happen now. since we spoke to you last alex there's been kind of a new thing in that you know we talk about the console effect and of course that's quantitative easing and it's been a fit in the top one percent in the ways that we've discussed but in the past year we've seen an extraordinary fiscal stimulus so the ordinary american is getting now

20 percent more in income incomes are absolutely skyrocketing and it's all printed money that's coming from the government and oem but you know what's the problem with this. since oppose it i guess he's talking more about the handouts so you talk about people's wages salaries increase some i'm talking of not about wages i'm talking about the transfer payments from the government in the form of be extraordinary checks that the government sending out of cycling from quantitative easing as you will from the fed it's actually money printing they're getting a check from the government and as such you know 34 percent of them the average american income now is coming directly from just check being sent to them from the government and so this is kind of a new thing a sense i spoke to last thing and it's it's kill me for the people if you will is that it is a better look i don't it's there are a worse like me and radio spoken about this is

a big point of and why he thinks it's everything by the side of it because i believe human beings exists and persist on the basis of having a mission something gloom in life and for a lot of people that sort of mission manifests in sort of a career in something they're driving a striving towards since this is what you do by just handing out money to people is it's the classic adage it's you know each answer is sure you just give them the fish like what are we doing just giving up fishing people becoming lazy slobs don't have you know something to drive to look like refuse to grow you need need some sort of pressure this doesn't that relax it's pressure and it creates lazy he says that a slug later once you know the movie wall-e. you know where you know that sort of his if the robot in front of the end it's just sitting on those chairs and floating around watching the screen and you know sucking nutrients so out of the out of shore says he's got that what it also does

creates a nation of dependents like and that's probably the more the more instead us component of it is that you put people who are sort of you know lazy in that they have no built in any false to see but that's sort of nigh this. sort of push up against something to strive for with unusual sort of his dependence which. you know reinforces the existence of the states and reinforces the stay it's kind of position as the nanny or all of the other the father the one who is in charge make more decisions for him or herself so i think it's dangerous like at least you know with the you know traditional cancel in effect at least and we all can get a good banks on say you know we can say well there's a blatant rip off here we've sort of got some energy and something to focus at like this you sort of dismantle it focuses on actually it's once it being

a west. there being much less number and whatever all right well you know we're going to have to continue this for another segment because your insights are brilliant as usual and your writing is anything i put out or you know or the piece here that's got the internet you know electrified so i'm going to going to wrap this up we're going to carry over for another segment thanks for being on this segment because a report alex that's max all right that's going to do it for this edition of the report with me back skies right stacy herbert want to thank our guest alex trotsky he's the founder of amber app and i stand by all. americans love buying homes.

this was a fundamental part of how our political leadership and our country at large understood the bargain you get a hoe and then you know rebel right that's the things you don't revolt if you have a stake in the system. the really interesting. and think about the longer deeper history. in the united states not just. a question of the american dream but the bigger question if you dream this for. it's not all about fat good fat bad carbs good carbs bad it's much more complex than not it doesn't depend on everyone getting back to understand not really what is good quality food what's a balanced diet and it's not about these 3 macronutrients because food is actually

30000 chemicals. no one has ever cruised around the globe in an inflatable catamaran before. you know how much. gives you. such a cruise you need a solid crew people you can share a foxhole with so to speak. to do with little sleep on the side. who want to have the money was the limit for your ascii that you could. get the.

one you need for us if you thought we'd got the one the freedom to maybe only. stop the madness that's the play of the israeli president to scale strains on the streets cars have been torched when our driver was dragged from his vehicle and being used now in a critical condition. comes as the cross border onslaught between gaza and israel intensifies in the suburb of television reportedly hit overnight. in other news the funerals take place of the victims of a mass shooting at a school in the russian city of others medics continued to fight for the lives of those critically injured relatives of victims have been speaking of. her name was she was 15 she was a very rare.